Indian Oil Corporation (IOC), the country’s largest fuel retailer, today reported a 50 per cent jump in consolidated net profit at Rs 7,092 crore for the first quarter ended June 2018 on the back of improved refining margins.
The company had reported a net profit of Rs 4,720 crore in the corresponding quarter last financial year (2017-18).
Total income of the company during the quarter also increased 15 per cent to Rs 1,52,377 crore as compared to the corresponding quarter a year ago.
IOC’s Gross Refining Margin (GRM) for the quarter increased to $10.21 per barrel as compared to $4.32 barrel reported in the corresponding quarter. Read More
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